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Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: Valueman who wrote (5536)	3/20/1999 5:42:00 PM
From: Valueman	Read Replies (2) \| Respond to of 10852

I may have missed this if it was posted, but I don't recall seeing it. Why would we need more $$$$? The only two reasons I see are a larger stake/greater funding of G*, or acquisitions(multiple), or just one big one! Company Digest March 18, 1999 12:02 Loral Space Seeks Approval To Create New Series Of Pfd Stock (LOR) (NewsTraders.com)-- Loral Space Communications Ltd. (LOR) plans to seek shareholder support to provide for an additional 20 million preference shares, with such shares comprising a new class of preferred stock, according to preliminary proxy materials filed yesterday with the SEC. The company currently has three series of preferred stock: Series A convertible preferred stock (150 million authorized, 45.9 million issued) Series B preferred stock (20 million authorized, none issued) and Series C convertible redeemable preferred stock (20 million authorized, 14.9 million issued). Loral said its board believes that the availability of additional preferred stock would provide the company with financing flexibility. The company noted that the preferences, rights and designations of the new series of preferred stock would be determined by the board. Shareholders of record as of March 31 will be entitled to vote at the annual meeting, currently scheduled to be held on May 18 in New York.